After investing in various blockchain initiatives, Deutsche Börse Group is establishing a “DLT, Crypto Assets and New Market Structures” unit, which will focus on the further development of a group-wide approach for the technologies. The new team is headed by Jens Hachmeister, and consists of 24 members, who joined for their DLT/blockchain expertise or involvement in already ongoing initiatives.
The team is organized in a project structure and headed by a functional lead. Furthermore, there will be two program managers, building the interface and coordinating between the initiatives. Hackmeister said that “the challenge is that we don’t exactly know where this will lead to”, but “the possibilities this new technology offers, are fascinating”.
Several market offerings based on DLT/blockchain technology have already cut across DB’s value chain, challenging its traditional market infrastructure, Hackmeister explained. For examples: equity funding via initial coin offerings (ICOs), decentralized secondary market platforms, or blockchain-based custody solutions.
He noted that while there’s been investment in various initiatives to create a sound understanding of the trends, the technology and its potential within the traditional segments of the bourse’s value chain, these “explorative steps have not been coordinated on a Group-wide level. In order to use the full potential of the technology for our businesses, to generate efficiencies and create revenues, a centrally steered approach is necessary to make a greater impact.”